Tethys Petroleum Ltd.

Tethys Petroleum Ltd. is pleased to provide a corporate update. Exploration update and production update Seismic - The Company is moving forward with the additional seismic acquisition and expects to be able to interpret and evaluate the results in the first quarter of 2023. This should allow time to identify new prospect to drill prior to the lease expiration in October. The primary area of interest is the southeast area [...]

Tethys Petroleum Ltd. today announces that Yerlan Dikhanbayev has been removed from the Board of Directors of the Company by a majority vote of the board and in accordance with the Company's Articles of Association. The board is unaware of any substantive issues but recent absenteeism and a participation level deemed insufficient is the reason for the removal. The Board appreciates Yerlan's past contributions and wishes [...]

Tethys Petroleum Ltd. is pleased to provide a corporate update. Exploration update and production update The KBD-08 well has commenced testing the Upper Barremian zone, which was not previously encountered in other wells. The well produced at a rate of approximately 550 tons per day using a 17mm choke. Using an 11 mm choke the current rate of production is about 285 tons per day over the last 3 days and total combined [...]

Tethys Petroleum Ltd. announced that it has filed its Interim Results for the three months ended March 31, 2022. The full Interim Results together with Management's Discussion and Analysis have been filed with the Canadian securities regulatory authorities. Copies of the filed documents may be obtained via SEDAR at www.sedar.com or on Tethys' website at www.tethys-group.com. Production update The KBD-02, KBD-06, and [...]

Tethys Petroleum Ltd. today announced that it has filed its Annual Results for the year ended December 31, 2021, with the Canadian securities regulatory authorities comprising its Audited Financial Statements together with Management's Discussion and Analysis and other required forms. Copies of the filed documents may be obtained via SEDAR at www.sedar.com or on Tethys' website at www.tethys-group.com. About Tethys Tethys [...]

Tethys Petroleum Ltd. is pleased to provide a corporate update. Reserve report update Tethys engaged McDaniel and Associates Consultants to provide a reserve report as of December 31, 2021. This report has now been completed and was prepared in compliance with NI51-101, Standards of Disclosure for Oil and Gas Activities and the COGE Handbook. The following is a summary from the report: Reserve Category Barrel of Oil [...]

Tethys Petroleum Ltd. is pleased to provide a corporate update. Oil Sale prepayment The Company has concluded a tender to enter into another agreement to sell 50,000 tons of oil for a minimum price of $385 USD per ton. This is a price increase of $120 per ton from the previously announced oil sale agreement announced on December 21, 2021. Upon closing and funding, this will provide Tethys with approximately $19.25 million [...]

Tethys Petroleum Ltd. is pleased to provide a corporate update. Normal Course Issuer Bid The Company had previously announced its intention to make a Normal Course Issuer Bid subject to Exchange approval. The Normal Course Issuer Bid has been approved by the Exchange. The Company may acquire up 5,377,000 common shares during the period of February 7, 2022 to February 7, 2023. About Tethys Tethys is focused on oil and gas [...]

Tethys Petroleum Ltd. is pleased to provide a corporate update. Normal Course Issuer Bid The Company intends to make a Normal Course Issuer Bid that is subject to Exchange approval. The Company may acquire up 5,377,000 common shares during the period on or about February 7, 2022 to February 7, 2023. The Company plans to use ATB Capital Markets as its Member broker to conduct the purchases. Purchases will be effected [...]

Tethys Petroleum Ltd. is pleased to provide a corporate update. Oil Sale prepayment The Company has entered into a prepaid oil sale agreement to sell 50,000 tons of oil for a price of $265 USD per ton. This is a significant improvement on earlier pricing with the most recent sales being closer to $165/ton. Upon closing and funding, this will provide Tethys with approximately $13.25 million USD. The primary use of proceeds [...]